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AI# 12819  Regular City Council Meeting 6.7. 09/24/2024:

Information

Agenda Item

Resolution - Business Development: Consider a resolution making findings that the Highland Oaks Public Improvement District (PID) meets the requirements of Chapter 372 of the Texas Local Government Code; accepting the Highland Oaks PID petition, which covers a portion of an area in Lubbock County, Texas, generally bounded by 146th Street to the north, Slide Road to the east, Woodrow Road to the south, and Frankford Avenue to the west; and calling for a public hearing to receive public comment on the formation of a public improvement district in the area depicted and described.

Item Summary

The City of Lubbock received a petition from property owners requesting that the City of Lubbock establish a Public Improvement District (PID) for the Highland Oaks development area. The area covers approximately 374.74 acres. PID establishment can only be initiated by a petition of property owners meeting two tests outlined in the statute. The petition must be signed by:  (a) Owners of taxable real property representing more than 50% of the appraised value of the taxable real property liable for assessment; and  (b) Record owners of property liable for assessment under the PID petition who: Constitute more than 50% of all the record owners of property liable for assessment under the proposal: or Own taxable real property that constitutes more than 50% of the area of all taxable real property that is liable for assessment under the proposal.  The petition received by the City of Lubbock was signed by 58.04% of the record owners of property liable for assessment, and property owners representing 62.48% of the total appraised value for the area contained in the proposed PID. The petition has been examined, verified, and found to meet the requirements of Section 372.005(b) of the Texas Local Government Code and to be sufficient for consideration by the City of Lubbock.  The Highland Oaks PID is a defined assessment area providing specific types of services for a given area. The purpose of the Highland Oaks PID will be: i. To fund a capital improvement project to engineer, procure, and construct water infrastructure throughout the subdivision.  ii. To fund costs associated with developing and financing the public improvements listed in subdivision (i) including costs of establishing, administering and operating the District. The owners of the property submitting the petition paid the application fee of $5,000, which should cover the cost of creating the Public Improvement District, with any remaining money reimbursed to the Home Owner's Association. If the cost of creating the Public Improvement District exceeds $5,000, the Home Owner's Association will reimburse the City for the remaining cost.  One of the statutory requirements for establishing the Public Improvement District is that the City Council hold a Public Hearing regarding the advisability of creating the District. If the City Council approves this resolution calling the public hearing, a notice of public hearing will be published in the Lubbock Avalanche Journal and notices will be mailed to the property owners before the 15th day before the public hearing as required by the statute.  The creation of the Highland Oaks PID is dependent on annexation into the City of Lubbock. An election for annexation will be held on November 5, 2024. Should the property owners elect not to annex this area into the City limits of the City of Lubbock, the City Council will not take further action on creation of the PID.

Fiscal Impact

None

Staff/Board Recommending

Erik Rejino, Assistant City Manager  Brianna Brown, Business Development Director

Attachments Resolution Exhibit 1 Exhibit 2

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